Michael Filloon
Oil & gas, energy, hedge fund manager, commodities

Bakken Update: Synergy Has A Good Quarter Going Into A Significant Production Ramp

Synergy (NYSEMKT:SYRG) reported a very good quarter beating on the top and bottom lines. Q3 earnings were 7 cents versus Capital iQ of 6 cents/share. Revenues were up 64% YoY to $12.3 versus $12.6 million estimated. This was a pleasant surprise as I was hoping it would meet estimates. Currently I'm recommending a purchase of shares this quarter as we have some exciting news ahead for the remainder of the year. Players in the Wattenberg Field are currently under valued. I believe Bonanza Creek (NYSE:BCEI) and PDC Energy (NASDAQ:PDCE) are also favored through 2013.

Synergy has 17,046 net acres in Wattenberg Field and 20040 net acres in the Northern D-J Basin. Both are in...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details